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  • UBS Rogue Trader Kweku Adoboli Guilty Of Fraud
  • KonaTC
    Full Member

    That seems a bit harsh, if his investments had come off he would have been a UBS hero and given an enormous bonus…

    linky

    globalti
    Free Member

    Did he actually steal money or was it just part of the normal egotism and race for status?

    “Senior managers were fully aware of his activities and encouraged him to take risks to make profits for UBS” i.e they gave him enough rope to hang himself. Would they have done the same to a public school educated white English man?

    root
    Free Member

    He was quite young if I remember (at least to be handling that kind of money imo), I wonder whether the young guys are the cannon fodder for the older guys? Maybe someone in the industry can fill us in.

    Edit: he’s 32 sorry, I thought he was early 20s for some reason

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    tomd
    Free Member

    His defence was really pretty pathetic – essentially “a big boy made me do it”. He was a very highly paid professional and should have been able to act ethically & legally.

    The secondary issue is the culture in the company, and as I understand it the sackings went a long way up the management tree. Yes the whole thing is rotten.

    teamhurtmore
    Free Member

    Dangerous to take the conspiracy/race/school arguments too far. At the end of the day, he exceed documented trading limits, invented fictitious deals to mask open positions and has now been convicted of fraud. Seems quite clear cut. Now whether he is solely responsible for the whoe debacle is another question!

    The defence based on others did it/turned a blind eye is not the most robust even in a kindergarten play ground. How oddly an appropriate analogy that is!!!!

    brakes
    Free Member

    wonder what his sentence is likely to be.
    I wonder if they will just base it on the fraud committed, or if they will take into account the size of the risk.

    allthepies
    Free Member

    😉

    TooTall
    Free Member

    Did he post on the classifieds?

    brakes
    Free Member

    7 years. Wow.
    Guess they took into account the size of the fraud…

Viewing 9 posts - 1 through 9 (of 9 total)

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